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Ultratech Cement Q2FY27 Consolidated Results

19 Oct 2026, 2:56PM

Revenue came in at ₹23295 crore, up 18.8% YoY, beating our estimates by 6.1%. Growth was driven by a healthy 12.9% YoY increase in volumes to 38 MnT, coupled with a 5.2% YoY improvement in realisations per tonne. Domestic cement volumes grew 13.8% to 35.9 million tonnes, even in a quarter hit by the monsoon.
EBITDA per tonne improved 6.5% YoY to ₹974.Profitability remained resilient despite industry-wide cost pressures, supported by higher realisations, strong operating leverage, and continued focus on cost efficiencies.
Net profit rose 21.8% YoY to ₹1500 crore, driven by robust operational performance and improved profitability across businesses.
Capacity utilisation jumped toc71% from 66% over the same period last year. Higher volumes and improved profitability strengthened UltraTech’s position in the market.
During the quarter, UltraTech launched Ultravolt, its wires and cables business, adding a new category to its Building Products portfolio

Particulars	Q2FY27	Q2FY26	YoY (%)	Q1FY27	QoQ (%)
Net Sales	23295	19607	18.8%	24648	-5.5%
Operating Profit	3721	3094	20.3%	5015	-25.8%
Adj.PAT	1500	1232	21.8%	2613	-42.6%
EPS	51	41.8	21.8%	88.7	-42.6%
			BPS		BPS
OPM (%)	16.0	15.8	19	20.3	-437
NPM (%)	6.4	6.3	16	10.6	-416
Tax Rate (%)	27.1	25.2	183	25.2	188

Volume	38	33.9	12.9%	41.3	-7.5%
Realisation	6095	5792	5.2%	5967	2.2%
EBITDA/tn	974	914	6.5%	1214	-19.8%

	Q2FY2027 (A)	Q2FY2027 (E)	Var %
Net Sales	23295.1	21959.0	6.1%
Operating Profit	3721.3	3500.2	6%
Adj.PAT	1500.1	1464.2	2%
EPS	50.9	49.7	2%
			BPS
OPM (%)	16.0	15.9	3
NPM (%)	6.4	6.7	-23